PM urges SHTP to become regional Silicon Valley

Prime Minister Nguyen Xuan Phuc has directed Saigon Hi-tech Park (SHTP) to develop further and become the Silicon Valley in the region.

SHTP urged to become regional Silicon Valley
At SHTP's 15-year anniversary, Prime Minister Nguyen Xuan Phuc expressed confidence in the park's future

Addressing the 15-year anniversary of SHTP last week, PM Phuc said that he was impressed by the park’s development, constructing improved infrastructure and attracting a number of large-scale investment projects from global giants like Intel, Microsoft, Nidec, Jabil, Sonion, Sanofi, Nipro, and Samsung.

“SHTP is leading the country in attracting high-tech projects, which gradually formed an urban area for scientific research and development (R&D) purposes in the city,” the prime minister said, noting that the park’s establishment 15 years ago marked an important step in establishing hi-tech parks, following the development of industrial and export processing zones.

Up to now, SHTP has attracted nearly 130 projects of hi-tech manufacturing, services, R&D, and training and incubation with a total investment capital of $7 billion. The park’s infrastructure has good quality and is strategically connected with the important domestic and international traffic routes.

To further develop SHTP, the prime minister has urged the park to foster innovative thinking to become the regional Silicon Valley. First, the park should develop a five-year strategy to meet the requirements of the fourth industrial revolution as well as the world’s scientific and technological advances.

The park continues to complete its human resources policy to attract skilled workers in the high-tech field, especially Vietnamese and foreign scientists. Also, SHTP should team up with universities and institutions to turn the park into the region’s leading scientific and technological centre. He also called on SHTP to nurture the startup ecosystem, complete the value chain, and boost the commercialisation of its products.  

 

SHTP urged to become regional Silicon Valley
SHTP will endeavour to attract further investment in high-technology projects

According Le Hoai Quoc, head of the SHTP Management Board, the park will continue its efforts to create a favourable environment for R&D, training, incubation, and startup in hi-tech sectors. The ratio of high-quality employees is increasing gradually and now stands above 30 per cent, while the added value of the products manufactured at SHTP averaged over 28 per cent. These ensure the sustainable development of the park.

Quoc highlighted that the value added chain has been formed by R&D activities, commercialisation of hi-tech products and hi-tech manufacturing. In addition to this value chain, SHTP has been involved in building high-quality human resources, new manufacturing facilities, as well as promoting business incubation and high-tech startups. So far, hi-tech production in SHTP contributes 30 per cent of the city’s total export turnover. It is expected that SHTP will contribute an annual $1-1.5 billion per year to the national budget from 2020 onwards.

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By Thanh Van